Owner of Brooke Holdings Featured on CEO Blog Space

The definition of an Entrepreneur is “a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.” With Financial risk comes fear and the uncertainty of your future success in business. A large part of breaking through the startup phase and becoming a profitable longterm business is managing your fear. At the end of the day if you are spending a sizable amount of your time focussing on the potential of your business failing, you most likely aren’t working hard enough. Instead of thinking to myself “what am I going to do if this business fails?” I replace those fears with strategies, people and ideas I can put in place to make sure that doesn’t happen. According to The Bureau of Labor Statistics: about 20% fail in their first year, and about 50% of small businesses fail in their fifth year.”. Chances are, your business is going to fail. If you let fear control your decision-making process, you are not only more likely to make mistakes, but are less likely to have the courage necessary to start over and try another idea.